• EUR/AUD declined on Tuesday as prospect of greater Fed, ECB divergence weighed on the pair.
• Investors leaned towards the Fed becoming more aggressive on rate hikes while the ECB remains accommodative.
• A daily bearish candle has formed and daily RSI is falling again both of which highlight bearish technicals.
• Immediate resistance is located at 1.5833( 38.2%fib), any close above will push the pair towards 1.5850( Higher BB)
• Strong support is seen at 1.5747 (50% fib) and break below could take the pair towards 1.5702 (21DMA).
Recommendation: Good to sell around 1.5760, with stop loss of 1.5850 and target price of 1.5670.
